Short Interest in Costamare Inc. (NYSE:CMRE) Decreases By 20.0%


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Costamare Inc. (NYSE:CMRE) was the target of a large decline in short interest in April. As of April 15th, there was short interest totalling 1,120,000 shares, a decline of 20.0% from the March 31st total of 1,400,000 shares. Approximately 2.1% of the company’s stock are sold short. Based on an average trading volume of 729,500 shares, the short-interest ratio is currently 1.5 days.

Separately, Zacks Investment Research upgraded Costamare from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a report on Friday, April 23rd.

Shares of CMRE traded down $0.23 during mid-day trading on Tuesday, hitting $11.02. 898,031 shares of the company’s stock were exchanged, compared to its average volume of 716,903. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.07. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of -100.17 and a beta of 1.85. Costamare has a twelve month low of $4.01 and a twelve month high of $11.31. The firm has a fifty day moving average of $10.01 and a two-hundred day moving average of $8.57.

Costamare (NYSE:CMRE) last posted its quarterly earnings data on Sunday, January 31st. The shipping company reported $0.27 earnings per share for the quarter, meeting the consensus estimate of $0.27. The company had revenue of $119.14 million during the quarter, compared to analysts’ expectations of $120.87 million. Costamare had a return on equity of 11.59% and a net margin of 3.80%. On average, equities analysts predict that Costamare will post 1.04 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 6th. Stockholders of record on Tuesday, April 20th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Monday, April 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.63%. Costamare’s payout ratio is presently 43.96%.

Several institutional investors have recently made changes to their positions in the stock. Private Advisor Group LLC boosted its position in Costamare by 3.7% in the first quarter. Private Advisor Group LLC now owns 29,162 shares of the shipping company’s stock valued at $281,000 after buying an additional 1,030 shares in the last quarter. Founders Capital Management bought a new stake in shares of Costamare during the fourth quarter worth $35,000. Moors & Cabot Inc. increased its holdings in shares of Costamare by 20.4% in the fourth quarter. Moors & Cabot Inc. now owns 37,200 shares of the shipping company’s stock valued at $311,000 after purchasing an additional 6,300 shares in the last quarter. B. Riley Wealth Management Inc. bought a new stake in shares of Costamare during the 4th quarter valued at $83,000. Finally, Rhumbline Advisers raised its holdings in Costamare by 13.8% in the fourth quarter. Rhumbline Advisers now owns 85,417 shares of the shipping company’s stock worth $707,000 after purchasing an additional 10,389 shares during the period. Institutional investors and hedge funds own 26.63% of the company’s stock.

Costamare Company Profile

Costamare Inc owns and charters containerships to liner companies worldwide. As of February 19, 2021, it had a fleet of 77 containerships with a total capacity of approximately 555,810 twenty foot equivalent units, including 1 vessel under construction and 4 second hand vessels. The company was founded in 1974 and is based in Monaco.

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